Mon, Sep 27, 2021
Archer Has Become A Publicly Traded Company
Archer Aviation has closed its business combination with Atlas Crest Investment. Atlas Crest has now changed its name to “Archer Aviation Inc.” after the completion of the transaction.
Archer’s common stock and warrants will commence trading on the New York Stock Exchange on September 17, 2021, under the ticker symbols “ACHR” and “ACHR WS”, respectively.
“Completing our go-public transaction and having Archer trade on the New York Stock Exchange is a huge milestone for our business. This is the culmination of a lot of hard work by the great team we have at Archer, but it is also the beginning of the next phase of our development and growth,” said Brett Adcock, co-founder and co-CEO of Archer.
“We are working to build an urban air mobility network that can change the way people travel in and around cities forever. We believe we have the team, the technology and the strategic partners to make our vision a reality,” said Adam Goldstein, co-founder and co-CEO of Archer.
Michael Spellacy, CEO of Atlas Crest, added, “We are pleased to have reached this important milestone in closing our transaction with Archer. With the proceeds from this transaction, Archer is entering the public markets from a position of financial and competitive strength to accomplish their mission of revolutionizing the future of urban transportation.”
This Business Combination will help to fund Archer's vision of bringing an electric vertical takeoff and landing vehicle to market and launching an urban air mobility network. The Combination has generated approximately $857.6 million of gross proceeds, including $600 million of proceeds from the PIPE.
More News
Very High Frequency The frequency band between 30 and 300 MHz. Portions of this band, 108 to 118 MHz, are used for certain NAVAIDs; 118 to 136 MHz are used for civil air/ground voi>[...]
Aero Linx: Aviation Suppliers Association Established February 25, 1993, the Aviation Suppliers Association (ASA), based in Washington, D.C., is a not-for-profit association, repre>[...]
Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]
From 2021 (YouTube Version): Colorado Campus Offers aVariety Of Aerospace Entertainment And Education Wings over the Rockies Exploration of Flight is the second location for the Wi>[...]
Also: Paramotor Champ's, Electric Ultralight, ICON BK Update, Burt Rutan at Oshkosh! The Popular Rotorcraft Association is reaching out for help in rebuilding their private runway >[...]